US Tariffs Could Slash Canada's Q4 Growth

Bank of Canada Governor Tiff Macklem warned that new US tariffs could weigh heavily on Canada's fourth-quarter growth, potentially reducing it to below 1%.

This warning comes as a result of re-escalating trade tensions between Canada and the United States, creating fresh uncertainty for businesses and households.

Macklem also mentioned that if oil prices stay near $100 a barrel, inflation could edge up in the coming months. The current annual inflation rate is 3%, well above the bank's 2% target.